In 1986, Irfan Razack formally established Prestige Estates Projects Limited, expanding the family business from retail into real estate development. Over the four decades since, the group has completed 302 projects delivering 193 million square feet of developed area as of September 2024, and holds the distinction of being the only developer with a CRISIL DA1+ rating for construction and development capabilities. Under Razack's leadership, the company developed major residential, commercial, retail, and hospitality projects across Bengaluru, Chennai, Hyderabad, Kochi, and Mumbai. Hyderabad arrived comparatively later in that geography, but the group has moved decisively: their Hyderabad push intensified in the late 2010s and early 2020s, and since then Prestige has steadily built its portfolio of premium residential projects across localities such as Gachibowli, Kokapet, Rajendra Nagar, Budvel, and Kismatpur.
In Hyderabad, Prestige has launched over a dozen projects such as Prestige High Fields, Prestige Spring Heights, Prestige Clairemont, The Prestige City Hyderabad, and Prestige Ivy League. Within that portfolio, the Rajendra Nagar–Budvel corridor has become a particular focus. Prestige City Hyderabad is located at Rajendra Nagar, Budvel, near Shamshabad in South Hyderabad. The group's decision to return to this corridor a second time — with Prestige Spring Heights sitting adjacent to the earlier Prestige Nirvana — reflects a deliberate cluster strategy rather than a one-off land acquisition.
Prestige Spring Heights is an ongoing residential apartment project developed by Prestige Group, located in the area of Budvel, Rajendra Nagar, in South Hyderabad — spread across 10.6 acres with 80% open space, close to Dynamo Fitness Club in Manasa Hills, near Himayatsagar Lake. The project offers 1,656 units of 3 and 4 BHK apartments whose RERA-approved sizes range from 1,576 sq. ft. to 3,051 sq. ft., arranged across 4 towers with a basement plus ground plus 35 floors each.
The lakeside setting is a genuine physical differentiator. The 3 BHK and 4 BHK apartments come with large balconies and windows offering panoramic views of Himayat Sagar Lake and the cityscape, ensuring natural light, fresh air, and a quieter residential outlook. Strategically located next to Prestige Nirvana, Prestige Spring Heights is just 300 metres from the Outer Ring Road, providing connectivity to key areas including Satamrai, Gandiguda, and Cherlaguda.
Buyer uptake has been strong. As of October 2025, out of the total 1,656 flats, close to 1,000 units were already sold, with around 600 to 650 apartments — mainly 3 BHK and 4 BHK — open for booking. Flats sized between 1,500 and 1,800 sq. ft. were completely sold out, with available options starting from 1,900 sq. ft. onwards. The current starting price is approximately ₹1.7 crore, with a rate per sq. ft. in the range of ₹7,830–₹8,100 depending on floor and facing.
Prestige Spring Heights does not stand alone on this corridor. The Prestige City Hyderabad is a large-scale township project by Prestige Group in Rajendra Nagar, Budvel — spread across approximately 64 acres beside Mulagund Lake, pairing high-rise apartments with a limited 5 BHK villa enclave. Configurations include 2.5, 3, 3.5, and 4 BHK plans with cross-ventilated layouts and on-campus retail for daily needs. The Bellagio villa enclave sits beside Mulagund Lake; villa sizes start around 5,767 sq. ft. and go up to 18,049 sq. ft. Together, the two projects mean Prestige Group now operates at meaningful scale across the Budvel–Rajendra Nagar stretch — from apartments under ₹2 crore through to large-format villas — which provides the locality with an established brand anchor that competing micro-markets in South Hyderabad currently lack.
Prestige Group's site selection in Budvel tracks a specific infrastructure thesis. The Rajendra Nagar Express Highway is a crucial 11.6 km stretch connecting Budvel to NH 44. The project location connects quickly to NH 44, the PV Narasimha Rao Expressway, and the Nehru ORR for smooth access to Mehdipatnam, Gachibowli, and HITEC City. For buyers whose daily commute involves the IT clusters of Gachibowli or Madhapur, the ORR junction at Budvel is the operative asset: employment hubs including Gachibowli (approximately 19 km), Manikonda (approximately 19 km), and Hitech City (approximately 21 km) are all accessible from the project site via the Nehru Outer Ring Road.
Rail access at the neighbourhood level is immediate. Budvel Railway Station is just 1.4 km from the project. Airport proximity is similarly practical: Rajiv Gandhi International Airport is approximately 11.9 km away and can be reached through NH 44 in roughly 15 minutes. The metro picture is forward-looking: the upcoming Hyderabad Metro line, which will connect Mindspace Junction and Rajiv Gandhi International Airport via 10 stations, will have a station at Rajendra Nagar. The project site will be connected to Rajiv Gandhi International Airport and Raidurg metro station via this corridor, with Rajendra Nagar metro station expected around 2 km from the site.
Prestige Group entered this corridor when the underlying market was already showing measurable momentum. Real estate in Rajendra Nagar experienced 12% to 14% sales growth in 2024, making it one of the faster-moving property markets in the country. The average year-on-year price growth of properties in Rajendra Nagar is approximately 9% to 13%, driven significantly by upcoming infrastructure such as Metro Phase 2 and the Regional Ring Road. The average property price in Rajendra Nagar currently ranges from ₹5,150 to ₹6,300 per sq. ft., depending on location and amenities. Prestige Spring Heights is pricing at the upper end of that band — consistent with how the group positions projects in comparable corridors in Bangalore and Chennai.
Demand for high-end housing properties in the area has increased by 20%, driven by growing preference for high-rise gated residential communities. That specific demand profile — higher floors, larger configurations, managed common areas — aligns directly with the product Prestige delivers at Spring Heights, where the smaller floor plates under 1,800 sq. ft. sold out first, signalling genuine end-user appetite for the brand's 3 and 4 BHK high-rise format at this location.
A Prestige buyer choosing Budvel gains access to an established residential catchment, not a greenfield edge. Within the immediate vicinity, social infrastructure includes Gateway International High School, Olive Hospitals, GVK One Mall, Cinepolis Multiplex, VIVA Mart Wholesale Supermarket, and Anand Nagar Colony Park; major highways, the Nehru Outer Ring Road, Inner Ring Road, Budvel railway station, and Rajiv Gandhi International Airport are all accessible. Rajendra Nagar is a Mandal in Ranga Reddy district, connected to all prime areas of Hyderabad via NH 44 and the ORR.
According to the 2024 Forbes India Rich List, Chairman Irfan Razack is among the 100 wealthiest Indians, with Prestige ranked as the second-largest listed property firm in India. The group holds the distinction of being India's only developer with a CRISIL DA1+ rating for construction and development capabilities. With a land bank of over 728 acres, Prestige also carries top financial ratings of CRISIL DA1+ and ICRA A+. These metrics matter in context: South Hyderabad has seen smaller developers announce projects that stall at foundation stage. A developer listed on both BSE and NSE, rated by CRISIL and ICRA, and operating across Bangalore, Chennai, Mumbai, and Hyderabad simultaneously carries a different risk profile for a buyer committing ₹1.7–₹3.3 crore on an under-construction home.
The Prestige Group traces its origin to Razack Sattar, with Prestige Estates and Properties formally established in 1986, growing to become a leading property developer in Bangalore. Starting with Prestige Court on KH Road in Bangalore, the group has over 190 developments covering 38.5 million sq. ft. of developable area to its credit. That institutional depth — 40 years of project completions, a diversified asset base that spans malls, tech parks, and hotels alongside residential towers — is what Prestige brings to the Budvel buyer beyond the physical apartment itself.
